Victoria trustees adopt budget, tax rate

The Victoria school district will generate $6.8 million more under its newly adopted 2013-14 budget.

At a VISD special meeting Tuesday, trustees adopted a two-cent reduction to its tax rate, bringing the new rate to $1.28 per $100 per assessed value.

Though they've adopted a reduced tax rate, an 11 percent increase in property values will leave homeowners with a bigger tab.

"It's better than the tax rate and the appraisal value both going up," said Frances Koch, VISD executive director of budget and finance.

Trustees also adopted a general operating fund budget of $106,450,544 in expenses and $107,468,189 in revenue.

Expenses are expected to increase by $5.3 million from the previous fiscal year.

VISD's fiscal year begins Sept. 1 and ends Aug. 31.

Increases in enrollment and average daily attendance, or ADA, contributed to the revenue increase, Koch said.

The district's ADA from last year increased by 240 students.

Additionally, VISD is expected to receive $45,674,111 from state funding sources, a $2.8 million increase from 2012-13.

In other business, the board also approved the district's 2012-13 final amended budget.

The 2012-13 expenditure budget totaled $104,313,872, with $103,557,890 in total revenue.

A designated fund balance of $755,982 from the 2012-13 amended budget was used to purchase additional school buses and instructional initiatives including security measures, wireless technology and a new time clock system for payroll purposes, Koch said.